Bitcoin Backlash, Time for Short Scalp?
Weekly Time-frame
The EU seems ready to finally pass its regulatory framework on Crypto with a vote expected on Monday. However, there are concerns that, as the draft stands, it would effectively ban Bitcoin and Ethereum in the Union. -Zycrypto
This news is currently a Bearish news maybe that is why the Bitcoin nosedive on Monday. We are still expecting a massive pump from $37,500 or $37,100. Awesome Oscillator (AO) is bearish opening a Red Volume in the negative.
1D Time-frame
We are trying to get back inside the ascending triangle which is Bullish . Our entry at $37,800 yesterday got triggered and currently in profit. Right now we are having a Bearish Saucer, Crypto greed and fear index is now in #23 which is supper bullish for us, liquidated long position reached $138M. Now it can go up.
4H Time-frame
Once we break $38,543.32, we can expect more to the upside and make it the next support, price target will be $39,837, $41,131, $42,732 $44,000 for Bitcoin . AO is still Bearish , last level of resistance is $39,231 once broken we can expect more to the upside.
We will discuss more on the possibility on our Live. Stay tune and check with us!
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Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
